Locator: 46695DRILLING.
In a release sent to Rigzone recently, Rystad Energy revealed that it has identified 36 potential “high impact” wells to be drilled or spud this year, which the company said is the highest annual total since it started tracking the market in 2015.
“This would be a sizeable jump from the 27 high impact wells drilled last year, and operators will hope for a better success rate,” Rystad noted in the release, which pointed out that eight of the 27 high impact wells drilled last year resulted in “commercially movable volumes”.
The high impact wells in 2023 discovered volumes of one billion barrels of oil equivalent, Rystad highlighted in the release, noting that this was a “sharp decline from the 3.5 billion barrels of oil equivalent found in 2022”.
“To make matters worse, 2023 was an expensive year, with drilling costs rising due to a significantly tighter rig market than in prior years, worsening the blow of a low success rate,” Rystad said in the release.
Of the 36 identified wells for 2024, 13 are in Africa, 10 are in Latin America, six are in Asia, and the Middle East, Europe, and North America each contain two, while Oceania contains one, Rystad outlined in the release. Fourteen of these wells will be drilled in frontier and emerging basins, with three opening up new plays entirely, Rystad noted.
Ya think SLB might be involved? SLB is the NVDA in the oil patch.
Reminder: Saudi Arabia to cut back on drilling.
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People Who Know, Know
This is simply incredible.
And then this, link here.
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